Medical practice divorce : successfully managing a medical business breakup / Joel M. Blau, Steven M. Harris, Peter S. Moskowitz, Ronald J. Paprocki.

Format:

Book

Contributor:

Blau, Joel M.

Harris, Steven M.

Moskowitz, Peter S.

Paprocki, Ronald J.

American Medical Association.

American Medical Association. Press.

Language:

English

Subjects (All):

Medicine--Practice--Economic aspects.

Practice Management, Medical--economics.

Professional Practice--economics.

Medicine--Practice.

Medical Subjects:

Practice Management, Medical--economics.

Professional Practice--economics.

Physical Description:

vii, 182 pages : illustrations, charts ; 23 cm

Other Title:

Successfully managing a medical business breakup

Place of Publication:

[Chicago, Ill.] : AMA Press, 2001.

Summary:

At some point in their careers, nearly every physician considers leaving his or her practice. But leaving a medical practice is much more than a career move. It's a major life change -- one that affects your personal security, finances, and the patient base you've worked so hard to establish. How can you make the transition as smooth and successful as possible? How do you protect yourself from potential legal and financial problems? Written collaboratively by an attorney, financial planners, and a physician, Medical Practice Divorce thoroughly examines all the legal, financial, and emotional issues surrounding a medical practice exit.

This practical guide also provides real-life examples that will help you evaluate new opportunities, maximize existing business relationships, and effectively set up a thriving practice of your own. Preparation is the key to a successful transition. Medical Practice Divorce gives you the knowledge you need to manage your move and make the next opportunity more personally and financially rewarding.

Contents:

Part I Is It Time to Make a Change in Your Practice? 1

Chapter 1 Psychological Preparation for Change 3

Circumstances Leading to Practice Dissatisfaction

Understanding Common Physician Traits

Coping Strategies

Primary Causes of Medical Practice Transition

Other Contributing Factors

The Renewal Cycle as a Model to Understand Professional Transition

In Summary

Chapter 2 Why Physicians Leave a Practice: Examining Legal and Management Issues 27

The Origin of Conflict

Compensation

Practice Equity

Governance

Part II How to Get Out Gracefully 39

Chapter 3 Financial Planning to Ease Your Exit 41

Investment and Financial Planning Preliminaries

Your Qualified Retirement Plan

Chapter 4 Twin Goals: Career Change and Future Financial Independence 61

Taking Time for Financial Education

Guaranteeing Financial Independence

Preparing for Inflation and Taxes

Learning to Take Risks

Chapter 5 Legal and Insurance Issues When You Leave a Practice 75

Leaving a Group Practice

Retiring from a Group Practice

Insurance Issues Involved in Changing Practice

Chapter 6 Using Resources and Relationships to Ease Your Transition 87

Planning a Successful Transition

Assessing Transition Resources

Recruit the Support of Key Relationships

Create a Support Network Before You Leave

Plan Your Goodbye: Rituals and Ceremonies

Sustaining Your Balance

What to Expect

Part III Renewal 105

Chapter 7 Starting Over: Making the Right Legal Decisions 107

Forms of Doing Business

Real Estate Issues

The Budget Process

Putting It All Together

Chapter 8 How to Set Up the Finances of Your New Practice 119

Investment Planning

Constructing an Insurance Portfolio

Retirement Plans

Chapter 9 Setting Up a Practice the Right Way 145

Personal Tasks

Establish Values-Based Financial Management

Establish Values-Based Time Management

Have a Personal Plan

Balance Your Life

Professional Tasks

Reassess Your Practice Frequently.

Notes:

Includes bibliographical references (pages 24-25) and index.

At head of title: American Medical Association.

ISBN:

0899709907

OCLC:

47966707